Organizers of events called off because of the coronavirus are likely to miss out on insurance payouts because typical policies do not cover epidemic outbreaks. Hotels hit by cancellations may fare better. That is because a new type of insurance launched by Lloyd’s of London just last year offers hotels compensation when revenue per available… Continue reading Targeted Insurance Offers Hotels Some Relief in Coronavirus Fight
Tag: hotel insurance
Coronavirus Slams U.S. Hotel Industry’s Global Operations
The hotel industry’s decadelong run of growth and rising revenue looked vulnerable at the start of the year. Now the spread of the coronavirus threatens to make it the worst performing year since the recession. The biggest hotel brands have already warned about how tough last month was, and how challenged the first quarter is… Continue reading Coronavirus Slams U.S. Hotel Industry’s Global Operations
Three Proposed Regulations that Should Be on the Hospitality Industry’s Radar
The U.S. Department of Labor (“DOL”) has issued three sets of proposed regulations that significantly impact the Hospitality industry. After two years of regulatory inactivity, the DOL’s Wage and Hour Division published three Notices of Proposed Rulemaking (“NPRM”) regarding overtime exemptions, the regular rate, and joint employment under the Federal Labor Standards Act (“FLSA”). The… Continue reading Three Proposed Regulations that Should Be on the Hospitality Industry’s Radar
Venture Programs Teams Up with the American Red Cross to Provide Safety Training and Emergency Preparedness Services
Venture Insurance Programs, a national insurance program administrator, has announced a strategic relationship with the American Red Cross to provide policyholders with convenient access to superior risk control resources, award recognition programs for lifesavers and discounted training backed by the unparalleled expertise of the Red Cross. With this new relationship, Venture policyholders will gain access… Continue reading Venture Programs Teams Up with the American Red Cross to Provide Safety Training and Emergency Preparedness Services
Marriott Breach Exposes Weakness in Cyber Defenses for Hotels
Long before Marriott International Inc. disclosed a massive security breach, the hotel industry had earned the dubious reputation as a hospitable place for hackers. Thieves have skimmed credit cards, looted loyalty accounts, and mounted complex schemes to trick clerks into downloading malicious software. In one elaborate series of attacks known as DarkHotel, networks at individual… Continue reading Marriott Breach Exposes Weakness in Cyber Defenses for Hotels